All Forum Posts by: N/A N/A

Home warranty's are more a piece of mind for a buyer. They might help you sell a property, but as far as buying one for yourself I don't know if they are worth it or not. I suppose if you have lots of problems with the house and have the money for several $50.00 copays then they could be a good thing, because electricians, plumbers, etc all charge an arm and a leg just to come out not to mention the $75.00 an hour the charge; so I guess it depends on your circumstances.

Susan

be sure to check the loan out very carefully because some FANNIE MAE loans require you to live in or at the very least own the home 5 to 10 years or you could get penalized if you dont live in it or sell it before that time. Just something to keep in mind

Thanks, thats a great idea. I'll do that. If you have any other suggestions please let me know, and thanks again.
Susan

The easiest way to do comps is to find all the homes in the area (within the subdivision) or within a 1/2 a mile from the subject property, at least the last three that sold. How much did they sell for and how many square feet? the are about the same size with similar features? Example: You find a home listed at $70,000.00 it has 3bd 1.5bth 1500sqft then you look for at least three homes that sold within the last six months to a year preferably ones with 3bd 1.5bth and as close to 1500sqft as possible. If your house is much bigger and you can't find anything in the last year that sold more than 1000 sqft and lets say it sold for $95,000.00, then you would divide the $95,000 by 1000sqft making the home $95.00 per sqft, then multiply your house $95.00 x 1500sqft for a value of $142,500 after the home is rehabbed to be in as good of condition as the comps. I hope this helps.

I found a house in a neighborhood where the houses average $100,000. and the list price for this property is 50,000. I would probably offer around 46,000 or 47,000. I would like to borrow 60,000. with a potential of 40,000 to 50,000 profit. I have done everything from framing, roofing, wiring, tiling, to painting, so I think I could do a lot of the work myself. What I can't or don't want to do myself and to save time I could hire someone else. I have a lot of connections being a Real Estate Agent, so I think I could get a better price than most people. If someone could just help me to figure out how to get the money. I have bad credit and no money because I have been a house wife and mother for the past 13 years. What would you recommend?

I know a lot more about real estate than that. one thing I don't know is where to find private money lenders. I have bought and sold a house before but we also used it as our primary residence, so we were able to just get a low rate mortgage. can't do that with my credit on a second non residential property. But thanks

I am a Realtor but I only got my license eight months ago and it is going very slow, so much so that it is costing me more than I am making. I have to something. I have decided I would like to start flipping property, but I don't have good credit or any money. I am a 31 year old woman and I have only been working outside of the home for a short while. I have been a housewife and mother for the past 13 years and that would explain why I don't have good credit or money.
Should I try to find a private money lender? If so how do I go about finding one?
If you have any advice for me it would be great!
I would even consider a partnership,
:mrgreen: